Key Developments: A. O. Smith Corp (AOS)
38.80USD
22 May 2013
$-0.84 (-2.12%)
$39.64
$39.79
$40.23
$38.59
613,316
768,203
$40.36
$21.85
Latest Key Developments (Source: Significant Developments)
A. O. Smith Corp Plans To Transfer Residential Water Heater Production To Other North American Facilities; Sees FY 2013 Charge Guidance; Raises FY 2013 EPS Guidance
A. O. Smith Corp announced that on March 28, 2013, Board of Directors approved a plan to transfer residential water heater production from Fergus, Ontario, plant to other North American facilities. The Company expects that the majority of production will be consolidated by July 1. As a result of the capacity rationalization, the Company incurred a pre-tax restructuring charge of $12.7 million in the first quarter related to employee severance costs and impairment of long-lived assets. Additional restructuring charges are expected to total approximately $5 million for the remainder of fiscal 2013. Excluding restructuring costs, operating savings related to the plant rationalization will offset operating inefficiencies in 2013. The Company expects pre-tax annual savings of approximately $10 million in 2014. As a result of these positive factors, it is increasing guidance for fiscal 2013. The Company believes will achieve fiscal 2013 GAAP earnings of between $3.00 and $3.16 per share and, it now believes will achieve adjusted earnings of between $3.40 and $3.56 per share, neither of which includes the potential impact from future acquisitions. The adjusted earnings per share projection excludes the gain from the settlement with a former supplier, the restructuring charges related to the plant rationalization in Canada and non-operating pension costs. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $3.43 for fiscal 2013. Full Article
A. O. Smith Corp Announces 20% Dividend Increase
A. O. Smith Corp announced that its Board of Directors approved a 20% increase in the Company's quarterly cash dividend to $.24 per share. The dividend increase affects the company's Common Stock and Class A Common Stock. The record date for the cash dividend is April 29, 2013 and the payment date is May 14, 2013. Full Article
A. O. Smith Corp Issues FY 2013 EPS Guidance In Line With Analysts' Estimates
A. O. Smith Corp announced that for fiscal 2013, it expects GAAP earnings of between $3.00 and $3.20 per share (EPS) and adjusted earnings of between $3.25-$3.45 per share, neither of which includes the potential impact from future acquisitions. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $3.42 for fiscal 2013. Full Article
A. O. Smith Corp Declares Quarterly Dividend
A. O. Smith Corp announced that it has declared a regular quarterly cash dividend of $.20 per share on Common Stock and Class A Common Stock. The dividend is payable on Feb. 15 to shareholders of record Jan. 31 . Full Article
A. O. Smith Corp Raises FY 2012 EPS Guidance-Conference Call
A. O. Smith Corp announced that for fiscal 2012, it expects EPS guidance to be between $2.85-$2.95 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $2.91 for fiscal 2012. Full Article
A. O. Smith Corp Announces Paul W. Jones To Become Executive Chairman, Ajita G. Rajendra Named Chief Executive Officer
A. O. Smith Corp announced Paul W. Jones will transition from Chairman and Chief Executive Officer to executive chairman of the corporation, effective Jan. 1, 2013, at which time, Ajita G. Rajendra will assume the role of President and Chief Executive Officer. Rajendra, who is currently President and Chief Operating Officer, will assume the role of Chief Executive and have responsibility for strategy development and implementation. Full Article
A. O. Smith Corp Declares Quarterly Dividend
A. O. Smith Corp announced that its Directors has declared a regular quarterly cash dividend of $.20 per share on Common Stock and Class A Common Stock. The dividend is payable on November 15, 2012, to shareholders of record October 31, 2012. Full Article
A. O. SMITH CORPORATION Raises Low End Of Prior FY 2012 EPS Guidance
A. O. SMITH CORPORATION announced that due to the historically seasonally strong second half of 2012 which it expects from Lochinvar's boilers for space heating, the Company will raise the bottom of estimate of fiscal 2012 earnings to a range of $2.80 to $2.90 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.88 for fiscal 2012. Full Article
A. O. SMITH CORPORATION Announces 25% Dividend Increase To $0.20 Per Share
A. O. Smith Corporation announced that it has approved a 25% increase in the Company's quarterly cash dividend to $.20 per share. The dividend increase affects the Company's Common Stock and Class A Common Stock. Full Article
A. O. SMITH CORPORATION Raises FY 2012 EPS Guidance
A. O. SMITH CORPORATION raised fiscal 2012 earnings per share (EPS) guidance to a range of $2.75 to $2.90 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.81 for fiscal 2012. Full Article
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